Quick automobile review finder - select below

Ask Us Anything

Please ask your question in the box below. We will answer it as soon as possible.

Please note that we may edit the text of your question and that, if you provide your name and town, these will appear with your question. No other personal or information will be displayed or made public.

Top Catgories

I have cash, how will I buy a automobile?

What is the best option when buying a automobile. I have cash so don't need a financing arrangement

1. Buy a new automobile outright with cash and trade it in every year?

2. Buy a second hand automobile?

3. Put a large deposit down on a automobile and get into a financing arrangement on a new automobile?

Filed under finance - Asked by Lee Russell (Dublin) - Sat, 17 Mar 2018 10:50

Neil Briscoe Answered by: - Neil Briscoe - changagoidem Advisor - @neilmbriscoe


Hi Lee,

Bearing in mind that I’m not an accountant (not even close and, if you have an accountant, I would direct this question to them too...), it seems to me that, as a automobile is a depreciating asset, it’s daft to be paying interest to fund that depreciation so let’s park the idea of paying a big deposit and going for finance.

That depreciation is far and away the biggest cost of motoring, so don’t buy new either as nothing depreciates faster than a new automobile. I think your best bet is to buy nearly new - either one-year-old or ex-demo. That’s the steepest part of the depreciation curve done away with and, if you buy from a brand that offers a lengthy warranty, then the year’s age won’t make much difference to you. Again, though, pass this by your accountant or financial adviser too, eh?

0 responses



здесь profvest.com